Press Release

India Automotive Bearings Market to Exhibit a CAGR of 13% until 2025

Expanding vehicle fleet size, increasing sales of motorcycles and scooters coupled with growing exports of automobiles & auto-components to drive India automotive bearings market through 2025

According to TechSci Research report, India Automotive Bearings Market By Vehicle Type, By Type, By Demand Category, Competition Forecast & Opportunities, 2025, the India automotive bearings market is forecast to grow at a CAGR of more than 13% during 2018-2025. Prominent reasons for the anticipated brisk market growth are increasing automobile sales, growing vehicle fleet and improving quality of automotive bearings. Further, the launch of Automotive Mission Plan, 2016-2026, is expected to result in a robust increase in production of automobiles in the country, thereby fuelling demand for automotive bearings in the country over the next seven years. In 2017, two-wheeler segment dominated the country’s automotive bearings market, followed by passenger car segment. Two-wheeler segment is expected to maintain its dominance in India automotive bearings market during the forecast period as well on account of increasing production as well as sales of two-wheelers in the country.

Browse 56 market data Figures and 27 tables spread through 153 Pages and an in-depth TOC on "India Automotive Bearings Market"

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Deep grove ball bearing angular is the most preferred type of automotive bearings in India, and the specific bearing type accounted for more than two-thirds of the market share in 2017. North and west regions are the leading demand generating regions for automotive bearings in India as these regions are highly industrialized. Moreover, on account of high population density and large fleet size, these regions are expected to maintain their dominance in the country's automotive bearings market through 2025 as well. Some of the major companies operating in India automotive bearings market are SKF India Limited, National Engineering Industries Limited (NEI), Schaeffler India Limited, and Timken India Limited, among others. Growing need for high quality automotive bearing products in the country has led to substantial investments in R&D activities by automotive bearing companies over the last few years.

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With increasing purchasing power and growing population, India automotive bearings market is expected to grow at a robust pace over the span of next seven years.  “Government initiatives regarding automotive testing infrastructure and R&D facilities across the country coupled with its focus on making automotive sector the major contributor to the country’s GDP would steer growth in India automotive bearings market over the next 5-10 years. Moreover, rising exports of automotive bearings to foreign countries is likely to boost bearing sales in the coming years.” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.

India Automotive Bearings Market By Vehicle Type, By Type, By Demand Category, Competition Forecast & Opportunities, 2025 has analyzed the potential of India automotive bearings market, and provides information and statistics on market structure, imports and trends. The report provides the intending clients with cutting-edge market intelligence and would help them in taking sound investment decisions. The report also identifies and analyzes emerging trends along with essential drivers and key challenges faced by India automotive bearings market.

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Expanding vehicle fleet size, increasing sales of motorcycles and scooters coupled with growing exports of automobiles & auto-components to drive India automotive bearings market through 2025

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